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15:32
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Originally posted by Woodjda:
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Yes that's exactly the definition of gross profit. In other words it's before "receivables impairment expense" (credit losses), "employment expenses" and "operating expenses". In other words it excludes everything except the direct associated sale cost which for afterpay is mainly payment processing fees. If you care only about gross profit then Uber has been wildly profitable for years despite burning billions in cash the entire time.
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Reinforces my view that the numbers don't add up
